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Zürich/Dübendorf, January 18, 1999. Barry Callebaut and
Carma-Pfister announce
today the signing of a take-over agreement. Both parties have
agreed on a due
diligence process and expect to conclude the transaction on March
1, 1999.

Barry Callebaut is the world leader in specialty chocolate and
cocoa with annual
sales of CHF 2,2 billion. Carma-Pfister AG, with sales of CHF 60
million, is the
Swiss leader in specialty chocolate with an extensive range of
products, comprising
chocolate couverture, cocoa and decoration items, instant desserts,
dessert
toppings and fruitsauces. Both companies complement each other very
well. Carma-
Pfister AG will be the world manufacturer of Swiss chocolate for
the Barry Callebaut
Group and will also act as a support for the sales of the Barry
Callebaut chocolate
and cocoa products in Switzerland.

Barry Callebaut will establish its worldwide Barry Callebaut
Institute for the
"Gourmet" business at Carma-Pfister AG in Dübendorf.

Pierre Vermaut, Chairman of the Board of Directors of Barry
Callebaut AG,
comments: "With this acquisition, we can enlarge our product
offering of specialty
chocolate and cocoa globally. We so far missed Swiss taste and
products in our
range. Many Swiss chef cooks, pastry cooks and confiseurs all over
the world will
welcome this move. We are also happy to have now an excellent
distribution power
in the Swiss market for our world products. It is an exciting
moment to welcome
Carma-Pfister's associates as colleagues in the Barry Callebaut
family to enhance
our global expansion."